price competition

price competition
Competition based on the price at which a product or service is offered. It is especially important in the marketing of products that are not distinctive, such as raw materials. Because price wars reduce profits, sellers prefer other forms of competition, based on quality, packaging, advertising, etc.

Big dictionary of business and management. 2014.

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  • price competition — ➔ competition * * * price competition UK US noun [U] ► ECONOMICS, MARKETING the situation in which companies try to sell their products or services at lower prices than similar products or services sold by other companies: »Intense price… …   Financial and business terms

  • price competition — noun intense competition in which competitors cut retail prices to gain business (Freq. 3) • Syn: ↑price war • Hypernyms: ↑competition …   Useful english dictionary

  • price competition — / praɪs kɒmpəˌtɪʃ(ə)n/ noun the attempt to compete in a market through skilful pricing …   Marketing dictionary in english

  • Non-price competition — is a marketing strategy in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship (McConnell Brue, 2002, p. 43.7 43.8). The firm can also distinguish its product… …   Wikipedia

  • Drug Price Competition and Patent Term Restoration Act — Acronym Hatch Waxman amendments Citations Codification …   Wikipedia

  • price fixing — n. Conspiring with other individuals or companies in the same business to set prices instead of letting them be set by market forces, usually to restrict competition. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc …   Law dictionary

  • Price war — is a term used in business to indicate a state of intense competitive rivalry accompanied by a multi lateral series of price reductions. One competitor will lower its price, then others will lower their prices to match. If one of the reactors… …   Wikipedia

  • non-price competition — A form of competition in which two or more producers sell goods or services at the same price but compete to increase their share of the market by such measures as advertising, sales promotion campaigns, improving the quality of the product or… …   Big dictionary of business and management

  • non-price competition — /nɒn praɪs kɒmpəˌtɪʃ(ə)n/ noun an attempt to compete in a market through other means than price such as quality of product and promotion …   Marketing dictionary in english

  • price war — noun intense competition in which competitors cut retail prices to gain business • Syn: ↑price competition • Hypernyms: ↑competition * * * noun : a period of intensive industrial or commercial competition characterized by repeated price cutting… …   Useful english dictionary

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